Dubai's crypto regulator awards the first MVP (minimum viable product) license to crypto trader BitOasis.
First licensing in Dubai; Image: Financial Watch
BitOasis is the first crypto trader in Dubai which is allowed to operate in the desert state. The Minimum Viable License will allow the company to open the world for cryptocurrencies to institutional and qualified private investors. No Full Market Product license has been granted as of yet.
Dubai's Virtual Asset Regulatory Authority (VARA) was established in March 2022 to regulate the crypto industry. The United Arab Emirates wants to become a leader in the emerging industry. VARA's goal is to protect consumers and also support investment opportunities.
